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www.business.appstate.edu/economics Accounting for Taste: Consumer Valuations for Food-Safety Technologies

By David M. Bruner, William L. Huth, David M. Mcevoy and O. Ashton MorganDavid M. Bruner, William L. Huth, David M. Mcevoy and O. Ashton Morgan

Abstract

Abstract: Consumers ’ willingness-to-pay (WTP) for post-harvest processed (PHP) raw oysters – oysters without health risks – is studied in experimental nth-price auction markets. The experimental design decomposes the effects of taste, objective risk information, and information on four PHP technologies on consumers ’ valuations. Results show that relatively uninformed consumers are willing to pay equivalent amounts for PHP and traditional raw oysters. However, after a blind taste test consumers are willing to pay a significant premium for traditional raw oysters. The premium for traditional oysters persists after objective information on risk and processing technology is provided. The results are robust over PHP technologies

Topics: JEL CODES, C9, D8, I18 KEYWORDS, experimental auction market, food safety, risk preference elicitation, consumer perceptions
Year: 2014
OAI identifier: oai:CiteSeerX.psu:10.1.1.414.768
Provided by: CiteSeerX
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